Shiba Inu Price Ready To Breakout, Will EGC Repeat Its Success?

Ryoshi, the founder of Shiba Inu, recently mentioned Shiba’s plans to add utilities and burn Shiba Inu in the near future. Even without the utilities, Shiba is currently valued at $18B market cap which might limit its growth potential. Another crypto that has been cited by many analysts as the next Shiba Inu and is taking the crypto industry by storm due to its low market cap is EverGrow. In the short time since launch, holders of EverGrow Coin have received over $30 million of Binance-pegged USD rewards. The project is growing at an exceptional rate and already has more than 110,000 holders according to BSCScan.

The team behind EverGrow have already launched a Decentralised SWAP even before product launch and have recently revealed the teaser of the upcoming Crypto Wallet, which will compete directly with top tier wallets like Trust Wallet, and have a whole suite of utilities, from NFT MarketPlace & Lending to “Crator” a content creation platform. Evergrow roadmap is designed to bring continuous value to investors.

At the time of writing, the EverGrow market cap stands above $300M and faces some resistance. Similarly, Shiba Inu will be facing its $0,0000522 resistance level at that point and should be hoping for enough liquidity to push its price further upwards. As it would have breached the psychological $0,0000500, it would be quite logical to assume it would gain enough traction and confidence from traders to keep pushing the price higher.

Ever since the ‘’flash crash’’ of the 4th of December. It seems Shiba Inu price is slowly gaining momentum again and we see that reflected in its price today of around $0,0000343. Shiba Inu has been trading sideways for quite a while, with its 21- Daily Moving Average (DMA) at around $0,0000400 and its 100-DMA at $0,0000315, which both show serious bullish support from its traders. Add to this that its 14-day Relative Strength Index is getting closer to the midline, which also shows us that a potential price spike is in the making.